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The global Plastic Packaging market is projected to grow from USD 339.71 billion in 2020 to USD 564.1 billion by 2029, at a CAGR of 5.2 % during the forecast period.

Plastic packaging is any material made of plastic that can be used to package, protect, convey, handle, and display other commodities, from raw materials to finished goods, from the producer to the end-user or consumer. Plastic packaging permits us to protect, preserve, store and transport products in a variety of ways. Without plastic packaging, a lot of products that consumers purchase would not make the journey to the home or store or survive in good condition long enough to be consumed or used.

Segment Analysis

The global Plastic Packaging market segment is based on product, technology, and application. By product, the market is bifurcated into rigid and flexible. By technology the market is bifurcated into Injection Molding, Extrusion, Blow Molding, Thermoforming, and others. By application, the market is bifurcated into Food & Beverages, Industrial Packaging, Pharmaceutical, Personal & Household Care, and others.

Based on product rigid segment is dominating the market. Due to its durability and strong aesthetic appeal, the rigid category dominated the plastic packaging market in 2021 and contributed 61.2% of total revenue. Additionally, rigid packaging’s high barrier to light, moisture, and oxygen and other reasons helped to explain the segment’s increased share in 2021. The expansion of rigid plastic items is probably favored by their reusability as industrial packaging materials like pallets, intermediate bulk containers, and other packaging products. The rigid plastic segment is divided into several subgroups, including bottles and jars, cans, trays and containers, caps, closures, etc. Because of their affordability, simplicity, and superior functionality, plastic bottles are widely used in beverage packaging. In contrast, because of their lighter weight and appearance, tray and containers are used in the packaged food and food service industries.

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